TAXATION  and VALUATION) . It iS alSO applied to the amount of

damages fixed by a jury in a court of law (see DAMAGES) . An assessment committee is a statutory committee appointed under the Union Assessment Acts 1862, 188o, for the purpose of making out the valuation lists upon which the poor-law rate is based . An assessment policy, in life insurance, is a policy issued at a fixed premium, the excess of which over the portion necessary to meet current claims and expenses goes to form a reserve fund which is devoted to various forms of benefit for the policy- holders . See INSURANCE and FRIENDLY SOCIETIES .